San Francisco Real Estate – Preview SF Homes – Thea Millerhttp://www.previewsfhomes.com
PreviewSFHomes.com is your site for unlimited and real time access to MLS information in the San Francisco area at no cost or obligation. As a free subscriber, you will receive the latest real estate listings, including Foreclosures, Short Sales, and REO’s at the same time or before a Real Estate Agent will review them. You can target specific SF markets and sign up for courtesy emails for immediate and customized updates.Tue, 13 Oct 2015 15:44:49 +0000en-UShourly1https://wordpress.org/?v=4.9.8Market Conditions – Real Estate Trends – Pacific Union Insightshttp://www.previewsfhomes.com/market-conditions-real-estate-trends-pacific-union-insights/
http://www.previewsfhomes.com/market-conditions-real-estate-trends-pacific-union-insights/#respondTue, 13 Oct 2015 15:44:49 +0000http://www.previewsfhomes.com/?p=2282Real Estate Roundup: What a Tech Bubble Could Mean for Bay Area Housing
October 12, 2015 by Pacific Union • Posted in Weekly Real Estate News Roundups

Here’s a look at recent news of interest to homebuyers, home sellers, and the home-curious.

BAY AREA HOUSING MARKET COULD LIKELY WEATHER ANOTHER TECH BUSTtwitterhq
Should history repeat itself and the Bay Area’s mighty tech empire again come crumbling down, homes may lose some of their value, but long-term demand seems almost certain to persist.

A Realtor.com blog post examines the likelihood of a tech bubble and what effects its bursting might have on the housing market. While stopping short of saying that current economic conditions indicate a looming bubble, the article notes one unsettling similarity to the dot-com era: the proliferation of so-called “unicorns,” companies valued at at least $1 billion without the financial results to warrant it.

During the late 90s tech-industry meltdown, employment in Silicon Valley in the sector declined by 17 percent, and home prices dropped by 25 percent. Realtor.com Chief Economist Jonathan Smoke said that while a tech downturn would certainly impact Bay Area real estate prices, the silver lining could be relaxed demand and fewer bidding wars. But even if a tech bubble were to temporarily cause frenzied demand to ease, the Bay Area’s lack of housing inventory will always be a moderating factor.

SAN FRANCISCO RENTS KEEP GETTING MORE OUTLANDISH
Rental costs in San Francisco aren’t going anywhere but up, while prices in Oakland and San Jose have soared since last autumn.

In its latest monthly rental report, Zumper says that the median rent for a one-bedroom apartment in San Francisco is currently $3,620 per month, the highest in the country and up 2.5 percent from September. The company notes that rent prices in the City by the Bay are outpacing those of No. 2 New York City, where prices grew by 2.2 percent month over month and a one-bedroom unit fetches $3,230.

San Jose ranks as the country’s fourth priciest rental market — $2,270 for a one bedroom — while Oakland places sixth, at $2,080. Displaced San Franciscans have helped push up rent in Oakland by whopping 26.1 percent since October 2014, the most of any of the 25 U.S. metro areas in Zumper’s report. San Jose had the nation’s second-highest annual rental hikes, at 19.5 percent, followed by Sacramento (18.3 percent) and San Francisco (13.1 percent).

According to a Mortgage Bankers Association index for the week ended Oct. 2, mortgage applications rose 25.5 percent from the previous week, while refinancing activity increased by 24 percent. CNBC says that mortgage applications are up 49 percent on an annual basis and are at their highest level in five years.

The new regulations are intended to further protect homebuyers by requiring lenders to disclose all details at least three days before closing. As Pacific Union CEO Mark A. McLaughlin pointed out in a blog post this summer, the new regulations give lenders zero tolerance for errors or changes and may impact how quickly real estate transactions close.

CHANCES OF A STRONG EL NIÑO STILL APPEAR LIKELY
Winter-sports fans who are hoping that the brewing El Niño will blanket the Lake Tahoe region in snow this season will probably like the latest weather forecast, as the system appears strong and poised to wallop the West Coast.

The latest forecast from U.S. Climate Prediction Center puts the chances of a powerful El Niño lasting until spring at 95 percent, unchanged from last month. SFGate reports that the system appears to be as powerful as the one that drenched San Francisco with 47 inches of rain during the winter and spring of 1997-1998.

And while a wet winter would be just what the doctor ordered for California, it would need to rain more than twice as much as normal to put a dent in the drought.

Irrespective of the reason you got to the conclusion that refreshing your home is a must, you have to take into account several aspects before starting to invest money into it. Either because you want to sell your property for more, or because you simply think ‘home’ doesn’t feel like ‘home’ anymore, here is what you need to know.
Adding value and flair to your property might seem easy at first sight, however, most homeowners appear to get lost in the huge number of decisions they have to make. In order to avoid some of the most common errors, here are some reliable tips and tricks to make your life a lot easier.
Innovative remodeling tricks every homeowner must know!
Even though DIY remodeling projects may sound tempting, here is some food for thought before you make up your mind – tips that will help you convert everything into a real success!
Is remodeling the right choice for you too?
First of all, you need to see the matter from an objective point of view – Do you really need to remodel your home? Are you ready for bigger projects or only small ones? You have to be aware that remodeling a home might actually take more time and require more money than you can actually anticipate. So are you really prepared? This is why, you strongly need an expert’s opinion and a backup plan too!
Make a list of wishes and try to keep track of it
When starting a home remodeling project, it is very difficult not to change your mind once in a while, however, this might actually get to turn into a serious problem if you seem to change your mind too often. Why? Delays! Your team of specialists already has a schedule to follow, but if you always interrupt them, guess what? The plan will suffer delays that can cost you extra…remodeling ideas
Bigger projects mean you have to move out
Even though you might be thinking that moving out of your place when remodeling might just add extra costs to your budget, well you should think twice – it’s all about staying out of the way. Otherwise said, once you hire a team of specialists, let them do their job and try not to be a distraction, but instead a real support!
Make a budget and be ready for the worst-case scenario too
Jotting down a list of wishes might sound a lot easier than calculating a realistic budget; and this is simply because there is no room left for errors here… To be able to make a realistic plan, you need to know exactly what you can really afford.
Being prepared for the worst case scenario means that you have to be prepared for supply shortages, miscommunications or unexpected expenses; they can be part of your home remodeling project…
Focus on the things you really need
If you want to boost your resale potential, get a real estate expert to give you an insight into the industry – best practices, things most buyers look for, at that period of the year, or the areas you should focus on.
From another point of view, if you want to start a remodeling project you firstly need to establish what your future buyers are most likely to be interested in or if you are doing this for yourself, what you and your family really need. Try to stay with your feet on the ground and do what really matters; get a professional’s opinion and keep in mind – details do the trick!
Keeping costs down while home remodeling might just sound impossible at first sight. The huge number of variables involved in the process or the problems that might arise, can turn things upside down for you. However, by following some simple guidelines, you can actually keep things under control…
Save money with these smart remodeling tips!September 24, 2015 at 10:19 am Lisa Ross 0 Tips & Tricks

Irrespective of the reason you got to the conclusion that refreshing your home is a must, you have to take into account several aspects before starting to invest money into it. Either because you want to sell your property for more, or because you simply think ‘home’ doesn’t feel like ‘home’ anymore, here is what you need to know.
Adding value and flair to your property might seem easy at first sight, however, most homeowners appear to get lost in the huge number of decisions they have to make. In order to avoid some of the most common errors, here are some reliable tips and tricks to make your life a lot easier.
Innovative remodeling tricks every homeowner must know!
Even though DIY remodeling projects may sound tempting, here is some food for thought before you make up your mind – tips that will help you convert everything into a real success!
Is remodeling the right choice for you too?
First of all, you need to see the matter from an objective point of view – Do you really need to remodel your home? Are you ready for bigger projects or only small ones? You have to be aware that remodeling a home might actually take more time and require more money than you can actually anticipate. So are you really prepared? This is why, you strongly need an expert’s opinion and a backup plan too!
Make a list of wishes and try to keep track of it
When starting a home remodeling project, it is very difficult not to change your mind once in a while, however, this might actually get to turn into a serious problem if you seem to change your mind too often. Why? Delays! Your team of specialists already has a schedule to follow, but if you always interrupt them, guess what? The plan will suffer delays that can cost you extra…remodeling ideas
Bigger projects mean you have to move out
Even though you might be thinking that moving out of your place when remodeling might just add extra costs to your budget, well you should think twice – it’s all about staying out of the way. Otherwise said, once you hire a team of specialists, let them do their job and try not to be a distraction, but instead a real support!
Make a budget and be ready for the worst-case scenario too
Jotting down a list of wishes might sound a lot easier than calculating a realistic budget; and this is simply because there is no room left for errors here… To be able to make a realistic plan, you need to know exactly what you can really afford.
Being prepared for the worst case scenario means that you have to be prepared for supply shortages, miscommunications or unexpected expenses; they can be part of your home remodeling project…
Focus on the things you really need
If you want to boost your resale potential, get a real estate expert to give you an insight into the industry – best practices, things most buyers look for, at that period of the year, or the areas you should focus on.
From another point of view, if you want to start a remodeling project you firstly need to establish what your future buyers are most likely to be interested in or if you are doing this for yourself, what you and your family really need. Try to stay with your feet on the ground and do what really matters; get a professional’s opinion and keep in mind – details do the trick!
Keeping costs down while home remodeling might just sound impossible at first sight. The huge number of variables involved in the process or the problems that might arise, can turn things upside down for you. However, by following some simple guidelines, you can actually keep things under control…

Shopping in San Francisco can be inspiring and enchanting. The city boasts a certain charm that is unlike anywhere else, and the eclecticism is unmatched in any other city. There is no shortage of fantastic retail locations, from classic and traditional to quirky, chic, and funky-retro. The San Francisco shopping scene offers something for everyone: regardless of taste, genre, budget, and personal style.

Union Square

Union Square in downtown San Francisco can be considered the epicenter of San Francisco shopping. Located just north of the Financial District, the actual “square” is a 2.5-acre public plaza, set between Geary, Powell, Post, and Stockton streets. Surrounding the square are several blocks of shops, hotels, restaurants, and theaters. This shopping area is bustling with activity, amidst the many upscale boutiques, art galleries, and café’s.

This elegant and picturesque street in Presidio Heights boasts a myriad of antique stores, interior design storefronts, and wonderful gift galleries. Walking through the neighborhood reveals some of San Francisco’s finest architectural features, coupled with some of the best views of San Francisco Bay.

Chestnut Street is a spirited and lively street, featuring a selection of home stores, clothing boutiques, fun restaurants, and inviting bars and café’s.

Stores to visit: Brandy Melville, Williams Sonoma, Rabat, Papyrus

Union Street

Not to be confused with Union Square, the shopping district of Union Street runs along about six blocks, from Steiner Street to Gough Street. The street is lined with Victorian architecture amidst dozens of restaurants, café’s, art galleries, and small, trendy boutiques.

Just up the hill from Union Street, Fillmore Street is another treasure of San Francisco’s shopping destinations. Up and down both sides of Fillmore Street are unique and beautiful home stores, clothing retailers, and many trendy restaurants.

An aerial view of Hunters Point (center) and Candlestick Point (bottom left), where the city plans to build about 12,000 housing units over the next few years.

A booming economy is bringing more jobs and people to San Francisco. The county’s current population of nearly 850,000 is projected to increase by 8,000 to 9,000 residents yearly through 2017, according to Pacific Union’s recent San Francisco County Housing and Economic Outlook, authored by John Burns Real Estate Consulting.

But one big question facing San Francisco is where all of these newcomers will live and whether they will be able to afford a home in the city, even on large salaries. The supply of available housing in San Francisco has been severely constrained for the past several years, which has helped fuel large price increases.

Mayor Ed Lee hopes to address affordability and pent-up demand in a plan to introduce 30,000 new and rehabilitated housing units throughout the city. One caveat of Lee’s plan is that at least one-third of these homes would be permanently affordable for low-income (defined as those with a maximum $77,700 median yearly income) and moderate-income ($145,650 annual income) families, meaning that a buyer would pay no more than 43 percent of his or her monthly gross income on a mortgage payment.

NEIGHBORHOODS POISED FOR GROWTH

Approximately 12,000 of the mayor’s planned 30,000 new and rehabilitated units — almost all of which are condominiums — will be built in the city’s southeastern corner, according to Tiffany Bohee, executive director of San Francisco’s Office of Community Investment and Infrastructure. Two sections – the Hilltop of the former Navy shipyard and the Hunters Point – Candlestick Point development – are part of a mixed-use collaboration with Lennar Urban and will include new housing. The project will also include a rebuild of the Alice Griffith public housing development by vertical partner McCormack Baron Salazar.

Lennar will build about 1,500 to 1,600 homes in the shipyard and Candlestick Point by 2020, Bohee says. A ramp-up of the additional 10,500 homes in the area should happen after that, according to Lennar Urban Vice President, Sales & Marketing Sheryl McKibben, who estimates that 88 homes will be completed by spring of this year. The company will complete close to 250 units by the end of 2015 and about 519 by 2016 at the Hilltop location. McKibben said that pricing on the units has yet to be determined.

For developing neighborhoods like Hunters Point, the goal is to apply the best of San Francisco neighborhood planning – walkable streets, plenty of open space, and extensive transportation options – says John Rahaim, planning director for San Francisco city and county, who estimates that 80 percent of development slated for the city will occur on 20 percent of its land.

“The advantage of that is that [residents are] closer to transit, the transit is available, and those services in those neighborhoods will improve because the density will allow for a certain market for a lot of the retail services and so on,” Rahaim says.

Other neighborhoods that will see additional housing – both new and rehabilitated – supply by 2020, include Pier 70, 5M (the section of SOMA centered around 5th Street and Mission Street), Mission Bay, Mission Rock, Park Merced, Transbay Redevelopment and Transit Center, Treasure Island, and Visitacion Valley. The city also hopes to repair public housing in Sunnydale and Potrero Hill.

NAVIGATING SAN FRANCISCO’S DEVELOPMENT HURDLES

The slow buildup in construction is typical for San Francisco, as planning and building regulations, along with collaborations with private developers (and their equity and debt), create more hurdles than in other cities. The mayor’s plan aims to not only spur new construction but also to streamline government processes – including land use, planning, and design processes as well as technical reviews – for the various agencies.

“It was really critical in terms of focusing and leveraging the city’s regulatory process because San Francisco is known for its gauntlet of rules and regulations – put in for good reason – but it’s very complex,” Bohee says. “I think the mayor’s plan certainly facilitated and has accelerated development for affordable housing.”

Rahaim and the planning commission worked with the mayor’s office to set the 30,000 number – a goal that was “reasonable but still aggressive” – through projects in various stages of completion (including those already approved and not yet approved).

“Land use and development in San Francisco is a pretty intense topic, and this is the only city I know where land use is high in people’s consciousness,” Rahaim says. Bohee notes that new developments can take as long as 30 years to play out behind city office doors, adding that plans for Mission Bay have been in the works since 1998.

Other plans by the city to increase affordable housing include a density-bonus concept that would allow builders on certain sites to surpass the size permitted by San Francisco code and to acquire and rehabilitate buildings once earmarked as rental units and turn them into more permanently affordable housing.

Another financial plan the mayor’s office touts is its Down Payment Assistance Loan Program. The 10-year initiative is designed to help first-time, middle-income buyers purchase a home in one of the country’s priciest cities. The mayor hopes to add $100 million dollars to the program.

“We usually fund people to the tune of $100,000 to 200,000 a household,” says Sarah Dennis-Phillips of the Mayor’s Office of Economic & Workforce Development. “It provides people an opportunity to invest in their future because it is through homeownership.”

OPTIMISM SURROUNDS PLAN

Dennis-Phillips acknowledges that while bringing down housing prices in the city is a tall order, the increased supply should eventually help temper appreciation and accomplish the mayor’s goals.

“The more housing we have out there, the less competition there is for each and every unit and the more prices start to level out a little,” Dennis-Phillips says. “I don’t think housing will ever be cheap in San Francisco, but if we can combat this rapid kind of price increase that we’ve seen over the last two years and get prices back to a somewhat reasonable level, then I think those 30,000 units will have done their job.”

Rahaim is similarly upbeat about Lee’s plan, noting that the housing supply and current urban trends toward city living will help drive the city to its goal.

“I have very little doubt that we’ll meet the mayor’s target,” he says. “I think the market is there for it. Even if the economy takes a turn or levels off, there is a big paradigm shift happening in the country … of people being much more interested in cities and in city living.”

The Haute Living Real Estate Network (HLRN) of HauteResidence.com is proud to recognize Thea Miller as a prominent real estate professional and the network’s newest partner. HLRN unites a distinguished collective of leading real estate agents and brokers, highlighting the most extravagant properties in leading markets around the globe for affluent buyers, sellers and real estate enthusiasts.

About Haute Living Real Estate Network (HLRN):

Haute Living Real Estate Network (HLRN) of HauteResidence.com offers readers the most prominent directory of experienced realtors, brokers and luxury listings, and HLRN has grown to be the number one source for real estate news, residential developments, celebrity real estate news and more. Seeking an experienced interior designer? Hauteresidence.com is also home to Haute Design Network (HDN), a collective of celebrated interior designers that will help you decorate your new home or stage an active listing. Access all of this information and more by visiting http://www.hauteresidence.com.

About Thea Miller:

Luxury-property specialist Thea Miller brings over 20 years of luxury sales and marketing to Pacific-Union/Christies International Real Estate, a global leader in luxury real estate. Thea is a verified member of the Top-Agent Network and Who’s Who In Luxury Real Estate, whose members must be in the top 10% of their firms and top 10% of their local markets. Her properties have been marketed in 80 countries on Who’s Who Luxury Real Estate, California Homes and Design, The Nob Hill Gazette, The San Francisco Business Times, and the Wall Street Journal. Thea is also a member of the National Association of Realtors, California Association of Realtors, and San Francisco Association of Realtors.

Thea enjoys an exceptional reputation both with her clients and peers. She is known for being direct and trustworthy. Her clients will tell you that she goes out of her way to identify and adjust to their specific needs. Enthusiastic, competitive, and goal-oriented, she commands strong negotiating skills, knowledge of the City, diverse wealth of education and knowledge, and a solid client base to continue to allow her to achieve an exceptional level of performance and success in her real- estate practice.

Thea has been involved in many philanthropic efforts and is an active supporter of the ASPCA, Victorian Manor (a home for seniors), Make A Wish, Habitat For Humanity and cultural institutions such as The San Francisco Symphony and Ballet.

Thea grew up in New York, and lived in Manhattan for many years. Prior to joining Pacific Union, she was a Top Producer with TRI/Coldwell-Banker Previews International the Pacific Heights’ office.

Pacific Union is the leading, luxury real-estate brand in Northern California. For us, “luxury” is measured by the quality of our people. Whether clients are looking buy or sell a home, Thea is committed to providing them with an extraordinary experience. She prides herself on exceeding expectations at every turn, whether it’s her willingness to go the extra mile, or her unmatched professional expertise and experience.

Classic, traditional half floor condominium featuring a large entrance foyer leading to a gracious living room with barrel ceiling and wood burning fireplace, formal dining room, charming breakfast room off the updated kitchen with gas range, refrigerator, dishwasher and disposal. There are hardwood floors in the entry, living and dining rooms and period detailing throughout. The two larger bedrooms have en suite bathrooms and the third bedroom has an adjoining half bath. There is 2 car tandem parking with generous storage in the garage along with a separate storage room.

Classic, traditional half floor condominium featuring a large entrance foyer leading to a gracious living room with barrel ceiling and wood burning fireplace, formal dining room, charming breakfast room off the updated kitchen with gas range, refrigerator, dishwasher and disposal. There are hardwood floors in the entry, living and dining rooms and period detailing throughout. The two larger bedrooms have en suite bathrooms and the third bedroom has an adjoining half bath. There is 2 car tandem parking with generous storage in the garage along with a separate storage room.